How Credit Monitoring Works and What It Costs: Free vs. Paid, Bureaus and Cancelling

Quick answer

• Credit monitoring watches your credit report and lets you know about changes on your credit report, such as a new account, after they show up (FTC). The FTC notes it won’t alert you to everything, such as withdrawals from your bank account.
• Services “might monitor activity at one, two, or all three of the major credit bureaus — Equifax, Experian, and TransUnion” (FTC). Check which ones.
• Many services charge a monthly or annual fee (FTC). The CFPB says prices range “from as little as a few dollars a month to over $15 per month” for identity monitoring.
• You can check your own reports for free every week at AnnualCreditReport.com (FTC).

What credit monitoring does

The FTC says credit monitoring services “keep an eye on your credit report and let you know if anything suspicious pops up.” They will usually alert you when, for example, “a new loan or credit card account appears on your credit reports” or “your personal information, like your name, address, or phone number changes.” They “won’t alert you when someone withdraws money from your bank account” or “uses your Social Security number to file a tax return and collect your refund” (FTC, accessed 10/19/2026).

Free vs. paid

• Free reports. Federal law gives you free credit reports from each nationwide bureau through AnnualCreditReport.com, the only site authorized to fill those orders. The three bureaus also let you check “once a week for free” there (FTC). The FTC adds: “Before you consider paying for these services, remember that you can monitor your credit by getting your free credit reports.”
• “Free” offers. The CFPB advises: “Before accepting a ‘free’ offer, check for any hidden trial periods, fees, or cancellation requirements.”
• Free fraud protections. A credit freeze and a fraud alert are free to place (FTC).

Identity theft insurance

Identity theft insurance is insurance, with its own limits and exclusions. The FTC says it may cover “out-of-pocket expenses directly associated with reclaiming your identity” but “generally won’t reimburse you for money scammers stole or financial loss from the theft,” and to “ask about the deductible and find out what’s covered and what isn’t.”

Example provider terms (not a ranking)

Listed alphabetically; not a ranking. Criteria from our methodology: price, bureaus covered, alert types, identity theft insurance terms, ease of cancelling. From the provider’s public plans page, accessed 10/19/2026. Prices change; confirm on the provider’s site.

Free plan (not a trial that converts to paid)

Plan	Price (as stated)	Credit report / score	Identity theft insurance (provider’s terms, for information)
Experian Free	“$0 No credit card required”	Experian credit report and FICO® Score; “Credit score is calculated based on FICO ® Score 8 model, unless otherwise noted”	“Not included”

Experian Free is its own plan, not a trial that converts to paid; Experian’s plans page does not describe it as converting (checked 10/19/2026).

Paid plans

Trial length and billing start not published by Experian (checked 10/19/2026); check before signing up.

Plan	Price (as stated)	Bureaus monitored	Identity theft insurance (provider’s terms, for information)
Experian Core	“$4.99 per month”. Trial length and billing start not published (checked 10/19/2026); check before signing up.	Experian only: “credit monitoring of your Experian credit report and FICO ® Score”	“Up to $100K”
Experian Plus	“$14.99 per month”. Trial length and billing start not published (checked 10/19/2026); check before signing up.	“credit monitoring” (Experian doesn’t say which bureaus on its plans page); its comparison table lists the Equifax and TransUnion reports as “Not included” for Plus (checked 10/19/2026)	“Up to $500K”
Experian Premium	“$24.99 per month”. Trial length and billing start not published (checked 10/19/2026); check before signing up.	“3-bureau credit monitoring”	“Up to $1M”, “for eligible expenses related to restoring your identity after fraud occurs”

Identity theft insurance caps are the limits Experian states; they are not a reason to choose a plan. See the FTC’s limits on what this insurance covers, above. Cancelling: Experian’s page heading says “Cancel or change your plan at any time.”

Experian says “Your lender or insurer may use a different FICO ® Score than FICO ® Score 8… or another type of credit score altogether.” Plain link: Experian plans.

Want paid monitoring? One option

Free first: your weekly reports at AnnualCreditReport.com, plus a free credit freeze, cover a lot. If you’d still like a paid service watching for you, here’s one.

IdentityIQ

Price

$1 for first 7 days, then $29.86/mo

Plan

Secure Preferred+

Note

Price as of Oct 29, 2026. The trial rolls into the monthly plan unless you cancel; confirm terms on IdentityIQ's site.

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Questions to ask any service (FTC)

• How often do you check credit reports for changes?
• Which of the three credit bureaus do you monitor?
• Will I be charged each time I review my credit reports?

How we research and compare products

General information, not financial advice. Moneysilk is not a credit bureau and does not offer credit repair.